A lawyer's ability to understand a client's legal situation and his professional norms may improve the outcome of a negotiation with another attorney, relative to the outcome if the client bargained for herself.
Indicate whether the statement is true or false
QUESTION 2Which of the following pair of terms is similar?
A) Overhead and direct cost.
B) Direct cost and fixed cost.
C) Overhead and fixed cost.
D) Overhead and variable cost.
QUESTION 3The mutually understood standards that people follow from experience are called norms.
Indicate whether the statement is true or false
QUESTION 4If marginal cost is rising
A) marginal product in rising.
B) marginal product is falling.
C) average variable costs is equal to marginal cost.
D) average variable cost is above average total cost.
QUESTION 5The utility possibility frontier helps to predict the exact bargain two parties will arrive at.
Indicate whether the statement is true or false
QUESTION 6If average total cost is rising
A) marginal cost is above average total cost.
B) marginal cost is rising.
C) marginal product is rising.
D) marginal cost is above average total cost and is falling.
QUESTION 7On the boundary of the utility possibility frontier, if the utility of one person increases, that of the other will decline.
Indicate whether the statement is true or false
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